Briefing Notes All
Is there a house price bubble in the Euro Area?
02.10.2006
Some of the big questions facing the US at the moment is the extent of the housing recession, and the implication for the wider economy. Another issue is whether the US housing recession will spill over into the euro area. In the past, housing shocks were transmitted across the Atlantic. Will it happen again?The first thing to note is that there is a high correlation between house prices in the US and in Europe, and especially with France and Spain. In a recent analysis, Deutsche Bank producing a scoring model to identify the sensitivity of European house prices to change in US house prices, and concluded that Ireland and Spain are most vulnerable to a slowdown in US housing. They conclude that any bad news from the world economy will not be compensated by housing, as happened in 2001,...
A short collection of references to the FSAP
02.10.2006
By: Wolfgang Munchau
The Financial Services Action Plan is an ambitious blueprint by the European Union to create a single market for financial services by 2010. A well integrated financial services market is regarded not only as a benefit to trade integration inside the EU, but it is also regarded as particularly important for the smooth functioning of the euro area. At present, financial and banking services within the EU are poorly integrated, relative to the trade in manufactured goods.
In the following list we present a number of important documents related to the FSAP:
- The original report of the Lamfalussy Group
- The EU Commission's White Paper for Financial Services Policy 2005-2010, plus Annexes
- The EU Commission's 2005 Evaluation of the FSAP
- A practical guide to the FSAP by the UK...
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